Approved: $21.5M Rate Increase for NM Gas Co.

From therepublic.com -New Mexico regulators have approved a $21.5 million rate increase for New Mexico Gas Co.  The Public Regulation Commission made its decision Tuesday after a two-hour meeting in which commissioners heard recommendations from a hearing examiner and the utility's attorneys.  The rate increase was $13 million less than what the utility initially requested. Commissioners say they approved the lower rate to ease the burden on low-income customers.  The rate hike will take effect Wednesday.  New Mexico Gas officials say residential customers will see their monthly bills increase by an average of $3.19, or about $38 a year.  The 6.4 percent rate increase stems from a settlement reached last fall by the utility, ConocoPhillips, an advocacy group and the U.S. Department of Energy.  The utility serves about 505,000 New Mexico customers.

Approved: $21.5M Rate Increase for NM Gas Co.